Analysts Set Tyler Technologies, Inc. (NYSE:TYL) Target Price at $593.69

Shares of Tyler Technologies, Inc. (NYSE:TYL) have earned an average recommendation of “Moderate Buy” from the fourteen research firms that are currently covering the firm, Marketbeat.com reports. Two investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. The average twelve-month price target among brokerages that have covered the stock in the last year is $601.38.

TYL has been the topic of a number of research analyst reports. DA Davidson increased their price objective on shares of Tyler Technologies from $525.00 to $550.00 and gave the stock a “neutral” rating in a research report on Thursday, October 17th. BTIG Research increased their price target on Tyler Technologies from $550.00 to $630.00 and gave the stock a “buy” rating in a report on Friday, July 26th. Barclays raised Tyler Technologies from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $577.00 to $700.00 in a research note on Monday, October 7th. JMP Securities upped their target price on Tyler Technologies from $490.00 to $580.00 and gave the stock a “market outperform” rating in a research report on Monday, July 22nd. Finally, Wells Fargo & Company lifted their price target on shares of Tyler Technologies from $580.00 to $600.00 and gave the company an “overweight” rating in a research report on Friday, July 26th.

Insider Transactions at Tyler Technologies

In related news, CEO H Lynn Moore, Jr. sold 5,000 shares of the firm’s stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $576.62, for a total transaction of $2,883,100.00. Following the transaction, the chief executive officer now directly owns 75,000 shares of the company’s stock, valued at $43,246,500. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Tyler Technologies news, CEO H Lynn Moore, Jr. sold 5,000 shares of Tyler Technologies stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $576.62, for a total transaction of $2,883,100.00. Following the transaction, the chief executive officer now owns 75,000 shares of the company’s stock, valued at $43,246,500. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Brian K. Miller sold 2,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $567.96, for a total value of $1,135,920.00. Following the completion of the transaction, the chief financial officer now owns 11,950 shares in the company, valued at $6,787,122. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 29,375 shares of company stock worth $17,049,739 in the last quarter. 2.20% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Tyler Technologies

Large investors have recently made changes to their positions in the business. Independence Bank of Kentucky bought a new position in Tyler Technologies during the second quarter valued at about $25,000. Kapitalo Investimentos Ltda bought a new position in shares of Tyler Technologies during the 4th quarter valued at approximately $26,000. Covestor Ltd grew its position in shares of Tyler Technologies by 153.6% during the 1st quarter. Covestor Ltd now owns 71 shares of the technology company’s stock valued at $30,000 after acquiring an additional 43 shares during the period. Blue Trust Inc. increased its stake in shares of Tyler Technologies by 329.4% during the 2nd quarter. Blue Trust Inc. now owns 73 shares of the technology company’s stock worth $37,000 after purchasing an additional 56 shares during the last quarter. Finally, Lynx Investment Advisory bought a new stake in shares of Tyler Technologies in the 2nd quarter worth approximately $38,000. 93.30% of the stock is owned by hedge funds and other institutional investors.

Tyler Technologies Price Performance

Tyler Technologies stock opened at $585.86 on Friday. The stock’s 50 day moving average price is $583.84 and its two-hundred day moving average price is $524.37. The stock has a market capitalization of $25.00 billion, a price-to-earnings ratio of 121.05, a PEG ratio of 5.44 and a beta of 0.78. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.06 and a current ratio of 1.06. Tyler Technologies has a 52-week low of $361.16 and a 52-week high of $606.93.

Tyler Technologies (NYSE:TYL) last issued its earnings results on Wednesday, July 24th. The technology company reported $2.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.34 by $0.06. Tyler Technologies had a net margin of 10.24% and a return on equity of 9.66%. The business had revenue of $540.98 million for the quarter, compared to analyst estimates of $541.01 million. During the same period in the prior year, the firm earned $1.53 earnings per share. Tyler Technologies’s revenue was up 7.3% on a year-over-year basis. On average, equities analysts predict that Tyler Technologies will post 7.21 earnings per share for the current year.

About Tyler Technologies

Tyler Technologies, Inc provides integrated information management solutions and services for the public sector. It operates in two segments, Enterprise Software and Platform Technologies. The company offers platform and transformative technology solutions, including cybersecurity for government agencies; data and insights solutions; digital solutions that helps workers and policymakers to share, communicate, and leverage data; payments solutions, such as billing, presentment, merchant onboarding, collections, reconciliation, and disbursements; platform technologies, an application development platform that enables government workers to build solutions and applications; and outdoor recreation solutions, including campsite reservations, activity registrations, licensing sales and renewals, and real-time data for conservation and park management.